AMSC price target raised to $23 from $16 at Oppenheimer

Oppenheimer analyst Colin Rusch raised the firm’s price target on AMSC to $23 from $16 and keeps an Outperform rating on the shares. AMSC delivered upside to top- and bottom-line expectations while guiding ahead of consensus as demand across segments continues to be strong, the analyst tells investors in a research note. The firm is encouraged by growth in the metals and mining space along with ongoing success supporting semiconductor fab buildout.